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Updated about 8 years ago on . Most recent reply

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49
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Donald Jeune
  • Brooklyn, NY
12
Votes |
49
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Are there any Active Flippers in NY? 5 boroughs, Upstate, L.I etc

Donald Jeune
  • Brooklyn, NY
Posted

Wanted to know how NY flippers generate leads (wholesalers, REOs, direct mail) in NY and what areas are being targeted? I wanted to get some more insight in order to possibly go into House Flipping myself. Any advice or insight is appreciated. 

Most Popular Reply

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1,466
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947
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John Hickey
  • Rental Property Investor
  • Chappaqua, NY
947
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1,466
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John Hickey
  • Rental Property Investor
  • Chappaqua, NY
Replied

Donald Jeune

I'm still working on getting my 5th property so not sure of that qualifies for active.

Here's what I've been doing:

I keep in touch with a few agents that bring me properties that have higher DOM (days on Market)

I also note when a property in the area I like to work in gets taken off the MLS but isn't sold.

I goto the auction, sometimes there is a few a week in my area.

I pass cards out to lawyers, at closings there are usually three attorneys and possible two RE agents. I tell everyone sitting at the table that I'm looking for a new distressed property. I don't promise any fees but would gladly pay one in the right deal.

I post on Craiglist that I'm a cash buyer looking for properties. I got through Craigslist a few times a week to see if anything interesting is in my area.

I've tried auction.com/ hubzu a few times nothing closed yet but I'll keep at it.

Deals are out there still, don't listen to the talk that's there's nothing out there. That's the kind of stuff I tune out immediately. If your really dedicated to success you will have to learn to tune out the folks that day it can be done here, today, since that or this happened.

I've been working on two good deals recently and I can tell you that they didn't happen for a good reason. No excuses.

I wasn't prepared enough, didn't have the time/money available to close the deals. I have already begun to rectify both of those shortcomings.

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